Sixty-eight percent of items placed in online shopping carts are left behind, making abandoned cart emails the most of the most effective types of marketing. Activewear brands have caught on. Adoption of abandoned cart reminder emails has increased to 56% in 2014 to 23% in 2013 with 15% now drawing attention to deals on incomplete purchases.
Speed is key to effectiveness. After 24 hours, recovery rates drop to half. Just 6% of purchases are completed when brands wait a day to send an email, compared to 11% when the email is sent immediately after the consumer leaves the cart. And 54% of all recovered carts have been won back a few hours after being abandoned.
Unfortunately, many brands have yet to grasp the importance of timeliness. Fifty-four percent of brands that send abandoned cart emails let a week lapse between the email and abandoned transaction, and just 20% send an email within the first 24 hours. Athleta, Helly Hansen, Lacoste, New Balance, and Under Armour are the fastest responders to abandoned carts in L2’s Digital IQ Index: Sportswear, sending emails within hours of detecting an incomplete online order.